4-1

These Conditions set out the criteria and requirements concerning:

(a)

eligibility, including the scope of permitted activities for entry into the Regulatory Sandbox, which should be met on a continuous basis throughout the duration of participation in the Regulatory Sandbox;

(b)

the application process for entry into the Regulatory Sandbox;

(c)

the minimum safeguards that Participants should satisfy whilst in the Regulatory Sandbox, which may be augmented by the Central Bank on a case-by-case basis; and 

(d)

the exit routes and requirements on exit from the Regulatory Sandbox.

4-2

These Conditions clarify the role and powers of the Central Bank in relation to Participants in the Regulatory Sandbox.